CN job cuts may not be the last, CEO warns

Article Abstract:

Canadian National Railway Co. CEO Paul Tellier has cautioned of other layoffs at the railway aside from the latest reduction of 3,000 jobs that will cut the firm's workforce to 50% of its 36,000 level in 1992. The firm said the most recent layoff is a response to a weakening economy and is part of a long-term effort to reposition itself on track to compete with leaner railways in the US. Tellier added that employees of CN should be attuned with a permanent uncertainty over their jobs' future as long as the firm is being pressured to bring its expenditures in line with those of railways in the US.

Comment:

CEO Paul Tellier warns of other layoffs at the railway aside from lastest reduction of 3,000 jobs

Railroads, Rail Transportation, Personnel administration, Canadian National Railway Co.

Call-Net drops fight against poison pill

Article Abstract:

Call-Net Enterprises Inc. of Toronto, Ontario, has dropped its opposition to Fonorola Inc.'s poison pill. The decision pre-empts a jurisdictional fight between securities regulators in Ontario and Quebec. The company has also agreed to extend its C$1.6 billion offer for Fonorola until Jun. 8, 1998, while Fonorola continues negotiations with other suitors. The company's decision to drop the fight and extend its offer for 10 more days increases the possibility of a bidding war for Fonorola, the third-largest alternative long distance carrier in Canada.

Comment:

Will no longer face opposition on its poison pill from Call-Net Enterprises

Legal issues & crime, Telephone Communications, Telephone services, Call-Net Enterprises Inc., Fonorola Inc.

Hydro-Quebec, Bell close to reaching deal

Article Abstract:

Hydro-Quebec and Bell Canada are on the verge of establishing a jointly-owned company that is set to handle their internal telecommunications networks in Quebec, Canada. The partnership requires both Hydro-Quebec and Bell Canada to invest approximately C$100 million in assets and hire 300 workers for the to-be-formed firm. The new entity is also set to market its services to other large institutions, including banks and state-owned departments, that have huge internal networks that link their workers, offices and plants.

Comment:

Is on the verge of forming a jointly-owned co w/ Hydro-Quebec to handle internal telecommunications networks in Quebec, Canada

Joint ventures, Data Transmission Services, Telecommunications industry, Telecommunications transmission technologies, Bell Canada, Hydro-Quebec